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New world order should be based on law, Putin says

According to the Russian president, "Russia believes that the formation of new international financial platforms is inevitable, particularly for international payments"

MOSCOW, October 27. /TASS/. A new world order should be based on law, be free and fair, Russian President Vladimir Putin said, addressing a plenary session of the Valdai International Discussion Club on Thursday.

"First of all, we believe that a new world order should be based on law, be free, authentic and fair. The global economy and trade should become more fair and open," he noted.

According to the head of state, "Russia believes that the formation of new international financial platforms is inevitable, particularly for international payments." Such platforms should not fall under any national jurisdiction; they should "be safe, free of politics, automated and independent from a single control center," Putin explained. "Is it possible to achieve this goal? It certainly is. It will require a lot of work and joint efforts by many countries. But it is possible," he added.

Putin explained that this would eliminate the possibility of abuse in the new global financial infrastructure and would also "make it possible to effectively, profitably and safely do without the US dollar and other so-called reserve currencies in international deals."